Fossil fuel subsidies are as high as ever

To Desmogblog : ” The exact worth of massive global fossil fuel subsidies is incredibly hard to figure. There’s no real consistency in the definitions of subsidies, or how they should be calculated. “

” As a result, estimates of global subsidy support for fossil fuels vary widely. According to a new analysis by the Worldwatch Institute, these estimates range from $523 billion to over $1.9 trillion “

I don’t know about you but I believe paying this much to keep on polluting our atmosphere and whole biosphere is just insane.

This is even more the case when one knows that renewable energy and energy efficiency receive up to five times less money and that to the prestigious IEA (International Energy Agency) :

” Implementing a partial phase-out of fossil fuel consumption subsidies accounts for 12% of the reduction in emissions and supports efficiency efforts. “

Now let’s imagine that all this money were handed out to energy efficiency and renewables. We would achieve prodigious greenhouse gases emissions reductions. This is one of the first elements of my climate change to do list.

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About Edouard

A recent MBA graduate in Sustainable Business and Energy at Presidio Graduate School, Edouard has a passion for transitioning businesses and communities to a carbon neutral future. Experienced in Marketing and Energy, he is currently for hire. Learn out more.